Originally Posted by
wagwan
At 1.29, OCA premium to FY20 NTA is 35%, still lowest of the five retirement stocks. RYM 227%, MET 74%, SUM 97%, ARV 41%.
Not bad, especially given quality of management and strategy, development pipeline and shift towards profitability all contributing towards possible inflection point for OCA as indicated by Maverick / Beagle and others previously. Not to mention macro support from RBNZ fuelling property market and possible redistribution of MET funds within sector, plus longer term tailwinds from demographic changes.
Also of note for me is that yield from OCA is historically a sustainable once, with net operating cashflow comfortably covering dividends (FY20 being $0.04 dividend, and $0.08 OCF / share). Good management of capital, and balancing of return vs re-investment, in my books.
Long story short, $1.29 could look very cheap in medium - long term